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Income convergence clubs in the Eurozone: a tale beyond the core/periphery divide

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dc.contributor.authorGarcía Solanes, José
dc.contributor.authorArielle Beyaert
dc.contributor.authorLópez Gómez, Laura
dc.contributor.departmentMétodos Cuantitativos para la Economía y la Empresa
dc.contributor.departmentFundamentos del Análisis Económico
dc.contributor.otherFacultades de la UMU
dc.date.accessioned2026-02-09T12:04:02Z
dc.date.available2026-02-09T12:04:02Z
dc.date.copyright© José García Solanes, Arielle Beyaert and Laura Lopez-Gomez.
dc.date.issued2025
dc.description.abstractPurpose This paper aims to examine income convergence among the Euro members from 1995 to 2021. Design/methodology/approach This study uses Phillips and Sul’s test (2007, 2009) extended by Lyncker and Thoennessen’s (2017) algorithm jointly with and convergence analysis and a traditional growth equation. Findings This analysis identifies three clubs of countries in terms of gross domestic product (GDP) per capita with notable disparities between and within them, which implies that the theory of optimal currency areas has not been fulfilled. Originality/value These results rule out the core/periphery divide as presented in the literature to date. Finally, by estimating an endogenous economic growth model, this study finds the primary factors underpinning the differences between the three stationary states: labor productivity, physical and human capital, investment and international trade.
dc.formatapplication/pdf
dc.format.extent18
dc.identifier.citationGarcía Solanes J, Beyaert A, Lopez-Gomez L (2025), "Income convergence clubs in the Eurozone: a tale beyond the core/periphery divide". Applied Economic Analysis, Vol. 33 No. 97 pp. 1–18, doi: https://doi.org/10.1108/AEA-02-2024-0085
dc.identifier.doihttps://doi.org/10.1108/AEA-02-2024-0085
dc.identifier.issn2632-7627
dc.identifier.urihttp://hdl.handle.net/10201/202181
dc.languageeng
dc.publisherEmerald
dc.relationSin financiación externa a la Universidad
dc.relation.publisherversionhttps://www.emerald.com/aea/article/33/97/1/1242695/Income-convergence-clubs-in-the-Eurozone-a-tale
dc.rightsAttribution 4.0 International*
dc.rights.accessRightsinfo:eu-repo/semantics/openAccess
dc.rights.urihttp://creativecommons.org/licenses/by/4.0/*
dc.subjectEurozone
dc.subjectEconomic Integration
dc.subjectOCA theory
dc.subjectIncome convergence
dc.subject.odsObjetivo 10: Reducir las desigualdades entre países y dentro de ellos
dc.subject.odsObjetivo 8: Crecimiento económico
dc.titleIncome convergence clubs in the Eurozone: a tale beyond the core/periphery divide
dc.typeinfo:eu-repo/semantics/annotation
dc.type.versioninfo:eu-repo/semantics/acceptedVersion
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relation.isAuthorOfPublicationacb0acd8-0046-49a9-a652-aaed93f02203
relation.isAuthorOfPublication.latestForDiscovery5b9cb463-365f-4aba-8451-535e4fc6adf0
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